Dominican Republic: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in the Dominican Republic

The Dominican fresh fish fillet market soared to $X in 2021, growing by 7,614% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. Fresh fish fillet consumption peaked at $X in 2012; afterwards, it flattened through to 2021.

Fresh Fish Fillet Exports

Exports from the Dominican Republic

In 2021, shipments abroad of fresh or chilled fish fillets decreased by -38.7% to X kg, falling for the second year in a row after two years of growth. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 499%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, fresh fish fillet exports skyrocketed to $X in 2021. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,188% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Haiti (X kg) was the main destination for fresh fish fillet exports from the Dominican Republic, accounting for a 84% share of total exports. Moreover, fresh fish fillet exports to Haiti exceeded the volume sent to the second major destination, France (X kg), tenfold. The third position in this ranking was held by Spain (X kg), with a 7.4% share.

From 2013 to 2021, the average annual growth rate of volume to Haiti amounted to +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+45.8% per year) and Spain (+84.2% per year).

In value terms, Spain ($X), France ($X) and Haiti ($X) constituted the largest markets for fresh fish fillet exported from the Dominican Republic worldwide, together comprising 99% of total exports.

Spain, with a CAGR of +90.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, picking up by 99% against the previous year. Over the period under review, the export price posted significant growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 116% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Haiti ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+437.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into the Dominican Republic

Fresh fish fillet imports into the Dominican Republic surged to X tons in 2021, picking up by 7,608% on 2020. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fresh fish fillet imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a mild descent. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Chile (X tons) and China (X tons) were the main suppliers of fresh fish fillet imports to the Dominican Republic, with a combined 83% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +30.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of fresh or chilled fish fillets to the Dominican Republic, comprising 45% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 21% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Chile amounted to +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-10.4% per year) and China (-4.9% per year).

Import Prices by Country

In 2021, the average fresh fish fillet import price amounted to $X per ton, shrinking by -16.2% against the previous year. Over the period under review, the import price recorded a slight reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+25.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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